Starting a Commercial Insurance Agency from Scratch Advice Needed

[whatyouwantfinally]

I will respectfully decline this advice. I love my job but it’s not my longterm goal to be a W2 employee. I do agree that a business plan needs thorough review and to be executed well on.

If you owned a business, had more responsibilities/stress and had to work more hours for less pay, what reasonable goal would be achieved?

Because that's what typically happens to people who just decide they want to start a business and try to learn everything on the fly.

 

[Al3x Lee]

Perhaps to your advantage, tech such as AI is coming on fast and full force and most currently in the industry aren't going to keep up with the tech. Perhaps you have a big advantage there.

Lol. Anyone coming from the tech world to insurance is in for a swift kick to the gonads. This industry operates like it's still 2003

 

[alwaysbelearning1]

If you owned a business, had more responsibilities/stress and had to work more hours for less pay, what reasonable goal would be achieved?

Because that's what typically happens to people who just decide they want to start a business and try to learn everything on the fly.

Yeah that’s not going to happen. I’m going into business with a plan to scale and build wealth for myself and family. If I fail I’ll try again. Seems like Insurance ain’t it for me lol

But thank you all for your insights much appreciated!!

 

[Al3x Lee]

Yeah that’s not going to happen. I’m going into business with a plan to scale and build wealth for myself and family. If I fail I’ll try again. Seems like Insurance ain’t it for me lol

But thank you all for your insights much appreciated!!

If you want to give insurance a try, go work for an agent first. See what you think. I wouldn't dive in head first though. Most people in this industry either fall back into it due to no other option or are brought in by their family.

I'm like Lt. Dan from Forrest Gump. Big family lineage of insurance

 

[Policy Monkey]

What's this about finding prospects is the "easy part"? Do share bc I'd like to hear how! Social media posts? etc.?

In a hard market like this, everyone is desperate to lower the cost, so finding prospects to quote is not difficult. Literally all you have to do is ask. (I've gotten prospects from conversations at Walmart.) The hard part is finding them a better deal.

 

[Allen Trent]

lol ok I see your sarcasm!

But for real that is my plan. I want to research this topic before taking any action which is why I’m here. Right now from what I’m gathering on this forum is that it’s a terrible idea to pursue or even bother to even dive deeper into in terms of research and learning.

That is very sweet of you to think mark is being sarcastic.

 

[marindependent]

This industry operates like it's still 2003

Its not that modern...CMON

 

[Al3x Lee]

Its not that modern...CMON

I dunno... my agency just got our phone system 'upgraded' to Microsoft Teams